Start Up Current Account

ATierney

New Member
Messages
1
Hi,
I am moving back to Ireland in December and will be starting up my own Speech & Language Therapy practice as a sole trader. Does anyone have any experience opening a start up current account and are there banks in particular that you would recommend?
 

dublin67

Frequent Poster
Messages
303
Ulster Bank do a good deal for business startups and used to, and may still, give two years free banking. I would suggest that you get some documentation (e.g. a utility bill) in your own name before your approach any bank. The Irish banks have shown themselves to be shockingly incompetent when dealing with non-residents opening up bank accounts. I would also wait until you are back in Ireland before you approach any bank.
 

peemac

Frequent Poster
Messages
785
Ulster Bank do a good deal for business startups and used to, and may still, give two years free banking. I would suggest that you get some documentation (e.g. a utility bill) in your own name before your approach any bank. The Irish banks have shown themselves to be shockingly incompetent when dealing with non-residents opening up bank accounts. I would also wait until you are back in Ireland before you approach any bank.
Ulster bank look set to close their irish operations.

Revolut might be an option.
 

dublin67

Frequent Poster
Messages
303
I know - Ulster Bank closing down will kill me. I have two businesses and use Ulster Bank for both. I've already moved to BOSI, then Dankse, then Ulster Bank. My smaller business has about two hundred invoices a year from about 10 customers that are mostly multinationals. Moving your bank account with the large companies is just painful as it is seen, correctly, as a potential source of fraud.

I personally go with Revlolut at the moment and they aren't a bank yet. It will be fine for a clearing account, so to speak, but I wouldn't have a balance exceeding a €1,000 with them. The other thing is about Revolut is that you will have a GB IBAN code - this may seem a bit unusual when you an Irish supplier (me) invoicing an Irish company. I know they are moving some operations to Ireland because of Brexit but I'm not sure what is happening with the IBAN code.
 
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